Open Insurance Services and IAG Loyalty launch Avios Insurance

Open Insurance Services and IAG Loyalty have expanded their partnership with the launch of Avios Insurance.

The new brand will initially offer travel insurance coverage, but eventually plans to expand into car and home insurance as well.

Avios Insurance will allow customers to collect Avios points – the global loyalty currency used by multiple airlines around the world – when purchasing or renewing cover. The points can then be used by the customer to pay for flights, cabin upgrades, hotel stays, and experiences.

For every £1 spent on a single-trip or annual travel insurance policy, Avios Insurance will offer 10 Avios points, up to 1,000 points per policy.

It follows the launch of a separate travel insurance product by the two companies called Wanda by Avios, launched in the UK in August last year.

“Since launching our travel insurance product, Wanda by Avios, with Open last year, the offering has proved popular with our customers and shown that people value high-quality cover with Avios rewards,” said Jack Smith, Chief Retail Officer at IAG Loyalty. “That’s why we’re excited to be expanding this offering with the launch of Avios Insurance, giving members another simple way to make everyday spend more rewarding, while also benefiting from trusted protection.”